Company raises a fresh round of capital that will be used to expand brick-and-mortar stores

Online eyeglass retailer Warby Parker has raised a fresh round of capital that values it at more than $1 billion and will be used to bolster its expansion of brick-and-mortar stores.

T. Rowe Price led a $100 million round of funding in Warby Parker, the company said in an interview this week. The round values five-year-old Warby Parker at $1.2 billion, said a person familiar with the company’s finances.